Bloomberg

Bloomberg | Quint is a multiplatform, Indian business and financial news company. We combine Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for India’s sophisticated audiences.

Naresh Goyal’s Exit Rumours Fuel Jet Airways Stock To Jump 5%

Shares of Jet Airways (India) Ltd. on Wednesday surged over 5 percent amid reports that founder Naresh Goyal was seeking to sell his stake in the company.

In terms of equity volume, 23.98 lakh shares of the company were traded on the BSE and over 2 crore shares changed hands on the NSE during the day. The BSE had sought clarification from Jet Airways (India) with respect to news that Jet Airways shares surge on report of Goyal's exit.

The company later clarified that the subject news is "speculative in nature".

“Please note that the subject news is speculative in nature and we are committed to make appropriate disclosures in accordance with applicable regulations to avoid any speculative activities,” Jet Airways said in an exchange filing.

There have been no discussions or decisions by the board, which would require a disclosure, the filing added. The company is, however, unable to comment on the reasons for the increase in its share price on the stock exchanges, it said.

The stock soared 5.20 percent to end at Rs 308.80 on the BSE Index. During the day, it jumped 8.94 percent to Rs 319.80. On the National Stock Exchange, shares of the company surged 5 percent to close at Rs 308.40.